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glenn2
New Member

When I put in gambling losses it doesn't reflect in the amount I get in return

 
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1 Reply
AlanT
Expert Alumni

When I put in gambling losses it doesn't reflect in the amount I get in return

Unfortunately, if you do not Itemize your deductions, the gambling losses will not have an effect on your taxes.  

We estimate that close to 90% of taxpayers will be taking the higher standard deduction this year (compared to around 70% last year) as a direct result of tax reform legislation.

Check your return to see if you itemize or take the standard deduction.  Keep in mind the Standard deduction for single taxpayers is $12,000.  The standard deduction for married taxpayers is $24,000.  

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